Sprint holds off on MetroPCS bid, for now - sources

Published 3:50 PM ET Sun, 11 Nov 2012

NEW YORK, Oct 10 (Reuters) - Sprint Nextel Corp is holding off on deciding whether to make a bid to buy MetroPCS Communications Inc as it continues to weigh its options, a source familiar with the matter said on Wednesday.

Sprint's board met on Friday to discuss a potential bid for the smaller company, another source familiar with the matter told Reuters. Sprint was not immediately available for comment on Wednesday afternoon

Shares in wireless service provider MetroPCS fell 4 percent in afternoon trade as many investors had been hoping that Sprint would make a counter bid for MetroPCS, which agreed last week to merge with Deutsche Telekom AG unit T-Mobile USA.